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Paytm targets 10 Mn monthly tickets across its flights, trains and bus ticket bookings this year

Targets 3x growth in FY 2018

Thursday, August 24, 2017, 14:15 Hrs  [IST]
HBI Staff |New Delhi

Driven by the consistent growth in its flights, trains and bus ticketing, and having booked more than 3 million tickets in the month of May, 2017, Paytm, the mobile wallet , is now looking to further establish itself as a dominant player with an aggressive target to book 10 Mn monthly travel tickets this financial year.

 Paytm has been able to effectively address the needs of mobile-only travelers across India. The company had launched flight and rail ticket bookings in July and October last year respectively. Within months , it has seen a massive surge in bookings – emerging among the top three players in flights and the largest for tickets, after IRCTC.

Today, more than 93% of its rail bookings come from the app, and its travel offerings are vastly popular across cities like Delhi, Bengaluru, Mumbai, Hyderabad, Kolkata, Pune, Chennai, Ahmedabad, Goa and Jaipur among others. This growth has been largely driven by Paytm’s strong penetration in non-metros coupled with product disruptions like insurance against bus ticket cancellation, zero cancellation-processing fee on flight tickets and instant refunds among others.

 Abhishek Rajan, Vice President, Paytm, said, “We are excited about the overwhelming response received over the last year. We are building Paytm to be the dominant player in the country’s fast growing online travel market. Our efforts are focused on building superior product experiences that customers love.”

Paytm is the first horizontal major to enter online travel, a segment hitherto dominated by vertical players. In January this year, Paytm’s travel business crossed $500 Mn annualized GMV run rate, while booking 2 Mn tickets per month. The company is targeting $2 Bn annualized GMV run rate by Mar 2018. It has chosen Bengaluru as the base for its travel business and is looking to ramp up its travel team to 250 in the coming months.

 
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